Matrix Development Group Signs W.W. Grainger to 101,944-Square-Foot Expansion at 16 Applegate Drive at Exit 7A
Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, today announced that W.W. Grainger has signed a 101,944-square-foot expansion agreement at 16 Applegate Drive within the Northeast Business Park. The industrial supply company now occupies a total of 187,185 square feet at the building, which is located just one mile from the Exit 7A interchange of the New Jersey Turnpike. Approximately 295,000 square feet of space is currently available for lease at the building.
Vice President James R. Murray served as in-house representative for Matrix in the transaction, while CBRE Vice President Stephen Salomon represented W.W. Grainger, North America’s leading broad-line supplier of maintenance, repair and operating products.
“Matrix and W.W. Grainger have a long-established business relationshipthat started when Matrix constructed a building for the company at Exit 8A,” stated Murray. “When W.W. Grainger outgrew that building, they turned to Matrix to build a larger facility at Exit 7A and Matrix subsequently purchased the Exit 8A building. With this latest transaction, we are continuing our track record of helping to support the company’s growing operations.”
With a prime location within a Foreign Trade Zone, 16 Applegate Drive is a state-of-the-art facility situated off the New Jersey Turnpike and less than one-quarter mile from Exit 7 of Interstate 195, the primary east-west artery within this region. The site offers tremendous visibility and access to the major freight-moving roadways in the Northeast, with direct routes to New York City, Port Elizabeth and Newark Airport; the Philadelphia docks and airport.
The building has a 36-foot clear height, plentiful door positions, trailer parking, and an Early Suppression Fast Response (ESFR) fire suppression system. Other companies on the tenant roster include Lifetime Brands, Inc., Sleepy’s and several other regional operators. The Northeast Business Park is contiguous to Matrix Business Park at 7A, Matrix’s premier 480-acre industrial park.
For more information about Matrix, visit www.matrixcompanies.com.
Matrix Development Group
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.
For more information on Matrix Development Group, please contact the company’s Cranbury, N.J., office at 732-521-2900 or visit www.matrixcompanies.com.